Shares of this smallcap company jumped 3 percent in Wednesday’s trading session after receiving an order worth Rs. 24 crores from Pace Digitek Infra. The shares have given a whopping return of 494 percent to its shareholders in just one year.
With a market capitalization of Rs. 1,923 crores, the shares of Bondada Engineering Ltd started Wednesday’s trading session on a higher note at Rs. 879 compared to its previous close of Rs. 865. During the trading session, the shares hit a high of Rs. 905, gaining around 3 percent and are currently trading at Rs. 885 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that they had received a work order from Pace Digitek Infra Private Limited, to supply 40M Ground-Based Towers-200 KMPH amounting approximately to Rs. 24. 01 crores and the orders are to supplied on or before March 31, 2024.
Earlier, on February 29, NLC India Limited granted a work order to Bondada Engineering for the Balance of System (BOS) work for the SOMW Solar Power Project including the O&M for three years amounting to Rs. 81.34 crores.
Coming onto the company’s financial statements, the revenue increased by 11 percent from Rs. 334 crores during FY21-22 to Rs. 371 in FY22-23. In addition, the net profits magnified by 80 percent from Rs. 10 crores to Rs. 18 crores during the same timeframe.
The company has an order book of Rs. 1,695 crores, with a majority for EPC contracts and Rs. 1,245 crores worth of orders in the pipeline. Through its wholly-owned subsidiary, the company has entered into the LED lights business and has started getting orders.
Furthermore, Bondada Engineering acquired a 60 percent stake in Atpole Technologies Pvt Ltd (ATPOLE). With this acquisition, the company is planning to rapidly increase its print in the BLDC motor business segment by serving all-electric vehicle manufacturing companies by synergizing with its existing businesses.
Moreover, the company has laid the foundation stone for the construction of ‘Bondada Industrial Park’ at Rampally, Hyderabad, to cater to global standard manufacturing facilities for its subsidiaries.
Headquartered in Hyderabad, Bondada Engineering was incorporated in 2012. The company provides engineering, procurement, and construction (EPC) services and operations and maintenance (O&M) services to the telecom and solar energy industry.
Written By Vaibhav Patil
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